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Student Tuition Statements (1098-T)

 

The following information is provided for general assistance related to the 1098T tax form but should not be construed as tax advice. Please consult IRS Publication 970 or contact a tax advisor if you need further assistance.

 

What is the purpose of the 1098T and how do I use it when filing my taxes?
Dartmouth College is required to produce the 1098T by IRS regulations. It can be used to claim the educational tax benefits outlined in IRS Publication 970. The information on the form will assist you in completing your tax return. If you need further assistance, please consult a tax advisor.

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What does the amount in Box 2 represent?
Box 2 displays the total amount the student was billed for qualified tuition and related expenses (e.g. Student Activity Fee) in the tax year.

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What does the amount in Box 5 represent?
Box 5 displays the total amount the student was given in scholarships and grants in the tax year. These are scholarships and grants administered and disbursed by Dartmouth College. There may be other organizations which provided scholarships or grants to the student which will not be included on the 1098T.

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If I received more in scholarships and grants (Box 5) than I was billed in tuition charges and related expenses (Box 2) does this mean that taxable income?
If you have questions on the tax impact of the information reported on1098T, please consult a tax advisor.

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Is there any reason I might not receive a 1098-T?
Dartmouth College is not required to send this form when the amount of grants and scholarships for graduate students is equal to the amount of qualified tuition and related expenses billed.  In addition students who do not currently have a valid Social Security Number submitted to the Registrar's office will not receive this tax form.

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When is this tax information mailed?
The 1098-T form is mailed each year on or before January 31.

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What address do you mail these forms to?
We mail the 1098T form to the student at their permanent address.

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Do I have to send a copy of the 1098-T form to the IRS?
No. You are not required to include the 1098-T form when filing your taxes. The information has been provided electronically to the IRS by Dartmouth. We recommend that you keep this information for your tax records.

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I misplaced my 1098-T form. May I have another one?
Yes. Currently enrolled students may access their current or previous 1098-T forms on Banner Self-Service. Select the 1098-T menu option. Graduated or currently inactive students may call or e-mail our office to request a hard copy of their 1098-T forms. Please keep in mind that it may be 7-10 business days for Student Financial Services to manually generate a duplicate copy. Please confirm that your tax form has not been received at your permanent address. You may contact us to receive the information we reported to the IRS on your behalf.

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What does the Tuition Statement Detail Report (TSDR) reflect?
The TSDR itemizes the eligible expenses billed and scholarships or grants provided to you, plus all payments (including loans) applied to the student's account during the federal tax year.

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Why are the tuition and fees charged for the Winter Term which begins in January of the next tax year, included in Box 2?
Winter Term charges are billed to you approximately 6 weeks before the term begins. If you are charged for a term that begins in the next tax year, you will also see that Box 7 is checked. This box indicates that a portion of the amount in box 1 or 2 includes charges billed for an academic period beginning January - March of the next tax year.

***Please consult IRS Publication 970 to determine how to match your tuition charges with payments received in the next tax year***

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Why is my scholarship or grant for the 2008 Winter Term tuition and fees included in Box 5, but the charges for the same term are not included in Box 2?
Because the Winter Term tuition and fees are normally billed in November of one calendar year and scholarship being disbursed in January of the next year, this often leads to the tuition charges being reported in the tax year prior to the reporting of the scholarship or grant payment.

***Please consult IRS Publication 970 to determine how to match your tuition charges with payments received in the previous tax year***

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Last Updated: 1/29/14